Dai ichi Life Insurance Company Ltd Decreases Stake in Arch Capital Group Ltd. (NASDAQ:ACGL)

Dai ichi Life Insurance Company Ltd cut its stake in Arch Capital Group Ltd. (NASDAQ:ACGL) by 13.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,374 shares of the insurance provider’s stock after selling 12,594 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Arch Capital Group were worth $8,992,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of ACGL. UMB Bank n.a. acquired a new stake in shares of Arch Capital Group during the second quarter worth about $30,000. Baldwin Brothers LLC MA lifted its position in Arch Capital Group by 50.7% during the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Rothschild Investment LLC purchased a new position in shares of Arch Capital Group during the 2nd quarter valued at about $35,000. LRI Investments LLC purchased a new stake in shares of Arch Capital Group in the first quarter worth about $38,000. Finally, Versant Capital Management Inc grew its holdings in Arch Capital Group by 40.3% during the second quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider’s stock worth $46,000 after acquiring an additional 131 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

ACGL has been the topic of several recent research reports. BMO Capital Markets upped their price objective on Arch Capital Group from $98.00 to $104.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 6th. StockNews.com downgraded shares of Arch Capital Group from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. Evercore ISI raised their price target on shares of Arch Capital Group from $104.00 to $107.00 and gave the company an “in-line” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Arch Capital Group from $108.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, TD Cowen raised their target price on Arch Capital Group from $116.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.38.

Arch Capital Group Stock Up 0.4 %

ACGL stock opened at $100.06 on Tuesday. The company has a market cap of $37.65 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 1.59 and a beta of 0.61. The firm has a 50-day moving average of $106.38 and a two-hundred day moving average of $103.39. Arch Capital Group Ltd. has a 12 month low of $72.85 and a 12 month high of $116.47. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17.

Arch Capital Group (NASDAQ:ACGL) last released its quarterly earnings data on Wednesday, October 30th. The insurance provider reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.05. The firm had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Arch Capital Group had a net margin of 33.86% and a return on equity of 18.94%. During the same period last year, the business earned $2.31 earnings per share. As a group, analysts forecast that Arch Capital Group Ltd. will post 8.99 earnings per share for the current fiscal year.

Arch Capital Group Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $5.00 dividend. The ex-dividend date is Monday, November 18th.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.